All 4 of Cramer's supposed "Four Horsemen of Biotech" (Gilead, Biogen, Regeneron and Celgene) are getting utterly smoked. They are all approximately 20% off their 52 week highs. This is a broader sell-off within the sector, it has very little to do with Waxman and his cronies who, in actual fact, have no means at their disposal at all to force Gilead to lower the cost of Sovaldi. That's the beauty of the free market system. Only competition will force Gilead into price revisions.
I repeat, this is not company specific and subsequently represents a great opportunity to pick up shares in a best-of-breed biotech at heavily discounted prices. My advice is to wait until the volume drops, then load the boat
Agree. GILD is being focused by CNBC as "the problem biotech". Once all this silliness subsides, GILD is still the same company which has the blockbuster drugs, growing at over 25% a year and trading at a forward multiple of under 20. These are fundamentals which will eventually drive the stock back up to $80 and above. This stock cannot be eyed as a "momo" stock like TSLA, NFLX, SCTY, AMZN or CMG. This one is CHEAP!! It has huge earnings and growth and has a tremendous pipeline of new drugs.